In August, we announced that we were looking for a new strategic investor to help us accelerate deployment in our key markets,” says Baseload Capital CEO Alexander Helling. “We couldn’t have asked for a better one. Chevron complements our group of owners, and adds expertise in drilling, engineering, exploration and more. These assets will accelerate our ability to deploy heat power, and strengthen our way of working.
Chevron’s investments in geothermal power reflects our ongoing efforts to help advance the world’s transition to a lower carbon future,” said Barbara Burger, vice president, innovation and president of technology ventures at Chevron. “We look forward to working with Baseload Capital to expand geothermal resources in the U.S. and internationally.
We want to be a catalyst for renewable energy by developing and financing the production of electricity from existing heat sources. Our goal is to create resilient societies and a planet in balance
Although the pandemic forced us to think of new ways to showcase our projects, we plan to maintain this course after the pandemic is over. Using VR, investors will eventually be able to tour all our power plants from Iceland to Asia, in one hour, with no carbon emissions. It’s the perfect way for us to be innovative, get the message out about our capabilities, and reduce our carbon footprint - all at the same time.
I believe that we will look back and see 2020 as the year that accelerated geothermal. The global pandemic has shown us that we can make a difference in CO2 levels by changing how we consume energy. For the Baseload Team, this has only fueled our dream of a planet in balance and the urgency of rolling out affordable, renewable baseload energy. However, to be successful, we must find new partners to learn from and collaborate with. A virtual seminar is the perfect way to do this.
We first got the idea when we were driving around Japan and started noticing signs for closed onsens. We started asking onsen owners if they might be interested in making money by creating power from their hot water and in parallel, we established our local subsidiary.
For business owners, it is a relief to have income from two different sources. Now, when the tourist business is down, I will still have money coming in from the power being generated from the Climeon heat power plant
It is almost unprecedented to bring a power plant from idea to completion in 18 months, regardless of power source, if we can accomplish this in Japan, which is known as one of the toughest markets in the world to enter, there’s no reason we can’t replicate it elsewhere.
This is an incredibly important milestone for Climeon, together with our partners at Baseload Capital, we are now contributing to the energy transition in Japan by turning hot water into clean electricity.
The ability to harness heat power will help Japan transition to a green baseload more quickly, it is proof that we can create energy without contributing to global warming, and it puts our nation on the path to energy independence.